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Seminole Electric Cooperative, FL's ICR Outlook Revised to Negative Product Image

Seminole Electric Cooperative, FL's ICR Outlook Revised to Negative

  • ID: 1710320
  • October 2003
  • Standard & Poors

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.

Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.

Abstract
NEW YORK (Standard & Poor's) Oct. 8, 2003-Standard & Poor's Ratings Services revised its issuer credit rating (ICR) outlook on Seminole Electric Cooperative, Fla. to negative from stable, reflecting concerns over Seminole's thin financial margins and low cash liquidity forecast over the next several years. Standard & Poor's also affirmed its 'A' ICR on Seminole, reflecting Seminole's strong capacity to meet financial obligations through all-requirements wholesale power agreements with the 10 member distribution cooperatives located throughout the state. "Seminole's ICR will be lowered if actual financial margins deteriorate to break-even levels, as forecast, diverging from past results," said Standard & Poor's credit analyst Jodi Hecht. "Although management of divergent needs of members remains an issue for Seminole, neither the revenue...

Companies mentioned in this report are: Seminole Elec Coop
Action: Outlook Revised

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